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17. Which of the following comparisons best identifies the impact that changes in prices and costs have on performance (as opposed to changes in quantity sold)? A. flexible budget compared to actual results B. static planning budget compared to actual results C static planning budget compared to the flexible budget D. master budget compared to static planning budget 1s. The investing and financing sections of the statement of cash flows record net cash flows rather than gross cash flows, meaning that the net effect of cash inflows and outflows are recorded instead of each transaction at its gross value. A. True B. False 19. Kimbril Catering uses the following cost formula for budgeting catering supplies: $530 per month plus $91 per job plus $12 per meal. A typical job involves serving a number of meals to guests at a corporate function or at a host's home. The company expected its activity in January to be 27 jobs and 174 meals, but the actual activity was 31 jobs and 173 meals. The actual cost for catering supplies in January was $5,330. The spending variance for catering supplies of Kimbril Catering in January would be closest to: A. $255 Favorable B. $255 Unfavorable C. $97 Favorable D. $97 Unfavorable E. $352 Favorable 20. An increase in the Prepaid Expenses account of $1,000 over the course of a year would be shown on the company's statement of cash flows prepared under the indirect method as A. an addition to net income of $1,000 in order to arrive at net cash provided by operating activities B a deduction frem net income of $1,000 in order to arrive at net cash provided by operating C, an addition of $1,000 under financing activities o. a deduction of $1,000 under financing acrivities